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Canada’s CommercializationIlse Challenge

Ilse Treurnicht CFI AGM – October 2008 Remarkable Times pg 2 Healthy Economy

Our Strong Education System Competitive Productive Science Base Advantages Talented & Skilled Workforce

Livable Communities

$### Global Persona Multicultural Civil Society

pg 3

pg 3 Competing is one thing. Winning is another! At an average of only 3.3 people per sq km, has one of the lowest population densities in the world. EdmontonEdmonton CalgaryCalgary Saskatoon VanVanccouverouver Saskatoon QuébecQuébec CityCity

HalifaxHalifax

OttawaOttawa WinnipegWinnipeg MontrMontréaléal WaterlooWaterloo

LondonLondon HamiltonHamilton TorontoToronto Is the world Flat or Spiky?

pg 7 Global talent, $$ are mobile

pg 8 How do we create stickiness?

pg 9 32.6 VS. 300 1.1 1.3 Million People Million Billion Billion

pg 10 pg 11 pg 12 pg 13 Place matters

Local Strength,pg 14 Global Reach

College of Founders

AICAIC LiLimitedmited MDSMDS Inc.Inc.

AstraZAstraZenecaeneca CanadaCanada Inc.Inc. Mr.Mr. PeterPeter MunkMunk

Mr.Mr. LawrenceLawrence S.S. BloomBloombbergerg RBCRBC FinancialFinancial GroupGroup

CancerCancer CareCare OntarioOntario MrMr.. JosephJoseph L.L. RotmanRotman

EliEli LillyLilly CanadaCanada Inc.Inc. Mr.Mr. AllanAllan SlaightSlaight

Dr.Dr. JohnJohn R.R. EvansEvans Mr.Mr. WilliamWilliam P.P. WilderWilder

MrMr.. ArthurArthur S.S. LabattLabatt

The Physical Platform

The MaRS Centre is a convergence facility located in the heart of ’s Discovery District, Canada’s largest research cluster

Phase I of the MaRS Centre (700K sf ) is home to over 70 organizations Ratio of private to public sector tenants is 3:1 MaRS Incubator (35K sf) houses 30 promising emerging life sciences, engineering and information technology companies MaRS Collaboration Centre is a conference venue, for use by MaRS, its tenants and the community Phase II (750Ksf) is scheduled to open in 2010

pg 19 Universities Proof of Principle Grants Research Hospitals Pre-Seed Funds

Individual Angels

Scientists

Philanthropists Inventors Generating“ “ VCs Purposeful Banks Collisions Individual Service Providers Entrepreneurs Government Incubator Companies Industry Associations

Regional Innovation Small/Medium Organizations Sized Business Large Sector-based Corporations Organizations pg 20 Phase I Phase II Anchored in Community

pg 22 SStrongtrong UniversitiesUniversities mattermatter…… Strong Science & Technology Pipeline

pg 24 Linking Creative and Business Assets of the City

Discovery District Financial District Creative & Arts District

Gardiner Museum of Ceramic Art Royal Conservatory of Music Royal Museum

Women’s College

University of Toronto The MaRS Centre UHN Toronto General UHN Princess Margaret Hospital for Sick children Mount Sinai Ryerson Toronto Rehab Inst University Art Gallery of Ontario TIFF & OCAD Canadian Opera House Financial District

Entertainment District

pg 25

Collaboration Networks

Shared Advantage pg 27 Regional Partnerships

Province of Ontario

(Ottawa) MaRS Landing (Guelph)

Peterborough Innovation Cluster (Waterloo Region)

TECH Alliance (London) (Hamilton)

pg 28 Edinburgh

China

India

CANADA CHINA EDINBURGH, SCOTLAND INDIA Vancouver FLORIDA

Seattle EASTERN MASSACHUSETTS

Toronto Montreal LOS ANGELES METRO NEW JERSEY/SUBURBAN PHILADELPHIA NEW YORK CITY Eastern Massachusetts New York City RESEARCH TRIANGLE PARK New Jersey / Suburban Philadelphia SEATTLE Suburban Washington D.C. San Francisco Bay SAN DIEGO SAN FRANCISCO BAY SUBURBAN WASHINGTON D.C. Los Angeles Metro Research Triangle Park, N.C. San Diego

Florida

pg 29 pg 30 pg 30 Cultural Gap Universities Angel/Seed Early Tech Later Stage Global Hospitals Stage Stage Transfer Financing Gap Financing Markets Gov. Labs VC VC Skills Gap

Early Research IP Market Needs Lab Prototype Engineering Sales Production

Research Push

ƒ Cultural gap is a critical challenge ƒ Mismatch of offerings to VC/market needs ƒ Limited business focused project management ƒ High technology risk, lack of pre-seed capital for commercial validation ƒ Limited strategic bundling of IP or portfolio management IP/Technology Platform Product Platform

Entering the Gap Leaving the Gap ƒ Knowledge/education focus ƒ Product/business focus ƒ No Management ƒ Early management ƒ Limited IP protection ƒ Strengthened IP portfolio ƒ High technology risk ƒ Technology proof-of-concept ƒ Limited market intelligence ƒ Market/customer feedback ƒ No product/commercial strategy ƒ Focus and development roadmap ƒ Broad scope, curiosity driven ƒ Milestones and timelines ƒ Limited understanding of financing options ƒ Positioned for seed funding ƒ Publications ƒ Confidentiality The commercial development of academic research results are particularly challenging in Canada:

Nascent technologies Limited number of sophisticated R&D intensive receptors locally Limited funding for market validation Limited risk capital Few serial technology entrepreneurs with global experience Small local market for early customer validation

pg 33 A Novel Commercialization Approach

Slow Process Science Capital Business = High Risk

pg 34 A Novel Commercialization Approach

‹ Demand‐based, Business market focused innovation ‹ Increased speed == ‹ Improved scope Science Capital ‹ Scalability ‹ Multi‐dimensional resources

pg 35 MaRS Business Services

Advisory Capital Commercialization Services Services Services

Market Intelligence

Entrepreneurship Education

pg 36 MaRS Business Services

Commercialization Advisory Capital Services Services Services

Market Intelligence

Entrepreneurship Education

pg 37 Scale and Leverage

pg 38 Innovation Capacity Integrated Commercialization Platform

MaRS Innovation

pg 39 MaRS Innovation will, for the first time, aggregate the exceptional discovery pipeline of 14 leading Toronto academic institutions to build a diversified portfolio of assets, and harness the economic potential of the best opportunities.

pg 40 Build a professionally managed, business accelerator platform as a single point of entry for industry partners and investors

Increase the scale, scope and viability of IP offerings, and the quantity and quality of deal flow from partner institutions

Facilitate strategic research collaborations with industry partners

Launch and grow robust spin-off companies

Attract new talent

Catalyze and attract sources of risk capital for translational research, market validation, company formation and growth

Best in class performance, with significant impact pg 41 Culture of Entrepreneurship

Culture Draws Talent EngageEngage YoungYoung PeoplePeople

pg 43 pg 43 Talented new Canadians Fuel Growth Public/Private Partnership

pg 45 Private/Public Partnerships Public & Private Mix

OnSETT

University of Toronto Asset Management

pg 46 PublicPublic && PrivatePrivate MixMix

OnSETTOnSETT

UniveUniverrsitysity of of To Torontoronto As seAst Managset Manemaegntement

pg 47 Porous Boundaries

Entrepreneurship

Science & Technology Social Technology Incubation Innovation Innovation Investment

Capacity

pg 48 Could a $100 Laptop Eliminate Poverty?

pg 49 Economic Impact

Real Estate Services Cluster Development

Office & Laboratory Facilities | MaRS Incubator Strategic Partnerships | Stakeholder Support

MaRS Centre Development | IT/AV Services Community Programs | Awards & Recognition

MaRS Collaboration Centre Talent & Knowledge Management

Business Services Public Policy

Commercialization | Market Intelligence | Capital & Investment MaRS Advisory | Entrepreneurship Education Building Growth Companies

Human Capital Risk Capital

ƒ Sales & Marketing ƒ Proof of Concept ƒ Business Development ƒ Angel & Seed ƒ Product Engineering ƒ Venture Capital ƒ Finance ƒ Growth & Expansion ƒ Operations ƒ etc… ƒ etc..

pg 51 pg 52 pg 53 Lessons, Opportunities and Challenges

MaRS is still a start-up …..

Leadership: Private sector leadership, sense of urgency

Place: Location, urban setting, convening power

Innovation Pipeline: Quality and scale

Model: Market facing, outside academe

Partnership: Harnessing of public & private resources

Values: Inclusiveness, collaboration, public purpose

Culture: Entrepreneurial

Position: Neutral territory, independence “Collaborative leaders have a natural or trained tendency to see connections and possibilities where others might see barriers or limitation. And the connections are usually to a larger purpose, one that gives them energy and hope.”

Dr. John Evans Chair – MaRS Former Chair - CFI

Source: Working Across Boundaries: Making Collaboration Work in Government and Nonprofit Organizations By Russell M. Linden Contributor Russell M. Linden, Published by Wiley_Default, 2002 www.marsdd.com pg 58 Ilse Treurnicht CEO, MaRS Discovery District T 416-673-8102 E [email protected] W www.marsdd.com

pg 59